I saw it this morning (one of the advantages of working at a technology company full of geeks: getting to go off as a group to see movies on company time), and I wanted to highlight the above comment.
I thought Gollum had one of the best performances in the film, and he’s a revolutionary achievement. This isn’t because he’s an entirely convincing visual effect — he isn’t. He’s still pretty obviously computer-generated.
However, he’s entirely emotionally convincing.
The obvious point of comparison, Jar-Jar Binks, suffers because, to put it simply, we just don’t buy him as a character. Technically, he’s remarkable, but on an emotional and narrative level, he’s completely phony.
Gollum, on the other hand, while just as remarkable technically, convinces because we do buy him as a character. We understand his dilemma, we see his conflict, and we fairly quickly quit thinking about him as a visual effect. By the end of the film, when he’s deciding whether or not to betray Frodo and Sam, we have forgotten that he’s a collection of pixels, and are watching Gollum, as Gollum, wrestle with an ethical question in his twisted brain.
The rest of the movie is just as amazing, though I agree with what’s been said above: The Arwen stuff was a big indigestible blob right in the middle of the film, Aragorn’s “death” was kind of hokey (check out the cliched shot looking up at the people standing at the edge of the cliff), and the Repeatedly Glowing Gandalf was a bit much.
Otherwise, this is a monumental feat of imagination and physical production. I want to see the third movie NOW.
P.S. Anyone read Ebert’s review? He clearly believes he’s the Defender of Tolkien, but I think he has his head up his ass, and doesn’t remember the original book and its themes half as well as he thinks he does.